BGN

Bulgaria has allocated more BGN 176 M to 223 companies for projects involving "innovative napkins", creative furniture" or "innovative focus groups".

Bulgaria's government is planning to spend BGN 100 M (EUR 50 M) a year on Christmas and Easter pension allowances.

In 2015 alone, BGN 265 M (EUR 132.5 M) are to be put aside for pensions.

Their minimum threshold is expected to increase from BGN 154.50 (EUR 87.25) to BGN 168.50 (EUR 89.25) by July 1, 2017.

Bulgaria's toy market has seen BGN 20 M growth in 2013.

A Bulgarian family tends to spend BGN 120 on toys ahead of festive days, meaning more money is being put aside for them now than a few years ago, the website Investor.bg has revealed.

In February the profit of Bulgarian banks rose by BGN 77 M and for the first two months of 2014 reached BGN 149 M, shows Central Bank (BNB) data. 

This is the third consecutive month with increasing profits. The growth is mostly thanks to lower expenses on bad credits and decreasing interest rates. 

As of end-February Bulgaria's budget balance is negative, amounting to BGN 688.2M, according to the official data released by the Financial Ministry.

Compared to the same period of the previous year there is an improvement in the Consolidated Fiscal Program (CFP) budget balance by BGN 43.8M, or 0.1% of the projected GDP.

The tax revenues in Bulgaria in the first two months of 2014 are by BGN 12 M less, compared to the same period of 2013. 

The main reason are the lower VAT revenues and the increased capital, social and health spending. The budget deficit for January and February 2014 is BGN 688 M. 

Compared to the same period in 2013, however, the deficit is by BGN 43.8 M smaller. 

Bulgaria will invest over BGN 35 M in 15 sports halls by end-2014, according to Regional Development Minister Desislava Terzieva.

Speaking Saturday in the western town of Botevgrad, Terzieva made clear that a total of BGN 7.8 M would be allocated for the construction and repair of children's playgrounds and sports grounds, according to reports of mediapool.bg.

Business loans increased in February on a monthly basis by BGN 320M to a total of BGN 35.22B, according to Bulgaria's National Bank data.

Compared to the same month of 2013, business loans rose by BGN 333M, Expert.bg reports.

Consumer credits in Bulgaria in February continue to rise for the third consecutive month, while the mortgages continue to drop, shows Central Bank (BNB) data.

The decrease in the mortgages is both on monthly and annual base, down to BGN 8.808 B. 

Bulgaria's advertising market in 2013 has been estimated at BGN 303M net value with a minimum expected investment increase of 2% in 2014.

Internet advertising has the greatest potential in 2014, according to data revealed by the Bulgarian Association of Communication Agencies (BACA) at the traditional forum of the organization.